By
MD of the World Bank
World Bank Managing Director (Operations) Anna Bizard
World Bank Managing Director (Operations) Anna Bizard reiterated strong support for Bangladesh to achieve its goal of achieving upper-middle income country status by 2031.
He also commented that deep macroeconomic and financial sector reforms are urgently needed to sustain inclusive growth.
He made this comment in a statement after his first visit to Bangladesh on Sunday.
In the statement, Bizard said, Bangladesh's story of economic growth and development is inspiring for many countries. Swift and bold reforms in monetary and fiscal policy will enable Bangladesh to maintain macroeconomic stability, reduce financial sector risks and sustain inclusive growth amid global uncertainty. He met Prime Minister Sheikh Hasina and praised the country's development.
He thanked the Prime Minister for providing shelter to the displaced Rohingya people. He also pledged Bangladesh's cooperation to meet the needs of the local people as well as them until their safe and voluntary repatriation.
The World Bank and the government are negotiating a financing program of more than $650 million for two projects to meet the needs of both the Rohingya population and local communities.
About half of the funding will be spent on the displaced Rohingya population and will be subject to grants.
I am proud of our longstanding partnership with Buzzard Elon, Bangladesh. The country has helped lift millions of people out of poverty. We will continue to help Bangladesh create jobs, build a strong private sector, attract investment and build capacity to deal with climate shocks and future crises, while ensuring that no one is left behind.
During the visit, she held meetings with the Finance Minister, Bangladesh Bank Governor, senior government officials, private sector and civil society leaders and women entrepreneurs to discuss Bangladesh's development priorities. At that time he was accompanied by Martin Reiser, Vice President of the World Bank's South Asia Region.
The World Bank has committed approximately $41 billion in grants, interest-free loans and concessional loans to Bangladesh since independence, funded by the International Development Agency (IDA). Currently, Bangladesh's largest development partners are the world's largest ongoing IDA program and the World Bank.
Awakening/National/SSK
